While Chinese shares dropped last week, the impact on South Korean beauty companies was modest – even encouraging given the circumstances.
In a move to stimulate domestic consumer spending, China slashed Central Bank interest rates, helping to raise the Shanghai stock market more than 5% higher, at the time of writing.
Vivienne Rudd, Director of Innovation & Insight, Beauty & Personal Care at Mintel, said that international brands continue to have the edge over domestic brands for many Chinese consumers. She said: “South Korean brands are seen as technically excellent and offering a sense of fun thanks to their strong branding, eye-catching packaging and retail presence.”
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